The number of clinical trials in Japan has been recovering in the recent years, and pharma have been integrating studies into global studies over time. Also, pharma have outsourced clinical related works to CROs more and more. As a result, the Japanese CRO market has been expanding for the past 10 years, and reached ¥153 billion in 2015.
The market has been largely occupied by Tier 1 CROs; EPS, CMIC, Quintiles and Parexel. Recently, Tier 2 companies; A2 and M3, have been emerging quickly with M&A.
As pharmaceutical companies look for size, capability and quality in CROs, the rest of CROs have seen difficulty to survive in this market over time.
In the near future, the market will concentrate more on Tier 1 & 2. The rest of CROs need to seek M&A and/or alliances with others, to survive in this market.
The market has been largely occupied by Tier 1 CROs; EPS, CMIC, Quintiles and Parexel. Recently, Tier 2 companies; A2 and M3, have been emerging quickly with M&A.
As pharmaceutical companies look for size, capability and quality in CROs, the rest of CROs have seen difficulty to survive in this market over time.
In the near future, the market will concentrate more on Tier 1 & 2. The rest of CROs need to seek M&A and/or alliances with others, to survive in this market.